I don't know about traits but I did see this. When my sim did not do any skill building she got undistinguished time and again. When I used those 24 hours (and some sleep replacement potions) to build her research skill as high as possible she got a regular 5 to 8 distinguished degrees to choose from.
That was skill building done AFTER application, because I had her apply in the first minute of gameplay and therefore she had 0 skills at the time. This means you don't have to waste time skilling, then applying and then waiting, but can apply and build the skills while waiting. I think thats a huge benefit, as I hate to waste sim time twiddling my thumbs for nothing.
